Key benchmark indices bounced back after hitting fresh intraday low amid high volatility in morning trade. At 10:18 IST, the barometer index, the S&P BSE Sensex, was up 32.73 points or 0.09% at 35,386.81. The Nifty 50 index was up 1.05 points or 0.01% at 10,629.65. Mixed cues from other Asian shares triggered profit selling after Monday's strong rally.

Among secondary barometers, the BSE Mid-Cap index was up 0.20%. The BSE Small-Cap index was up 0.37%.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1017 shares rose and 816 shares fell. A total of 100 shares were unchanged.

Metal shares declined. JSW Steel (down 3.72%), Jindal Steel & Power (down 3.63%), Steel Authority of India (down 2.15%), NMDC (down 1.97%), Tata Steel (down 1.86%), Vedanta (down 1.71%), Hindalco Industries (down 1.48%), National Aluminium Company (down 0.76%) and Hindustan Zinc (down 0.21%), edged lower.

Most FMCG shares rose. Colgate Palmolive (India) (up 2.33%), Marico (up 1.03%), Procter & Gamble Hygiene & Health Care (up 0.91%), GlaxoSmithKline Consumer Healthcare (up 0.86%), Britannia Industries (up 0.63%), Nestle India (up 0.32%), Tata Global Beverages (up 0.18%), Bajaj Corp (up 0.13%) and Dabur India (up 0.07%), edged higher. Godrej Consumer Products (down 0.84%), Hindustan Unilever (down 0.87%) and Jyothy Laboratories (down 2.12%), edged lower.

Overseas, Asian shares were mixed on Tuesday after US President Donald Trump quashed hopes of a trade truce with China, dampening risk appetite across the region.

In a media interview, Trump said it is highly unlikely that he would delay an increase in tariffs from 10% to 25% on 1 January 2019. His comments came days before the G-20 summit in Buenos Aires, Argentina, where he is set to meet Xi for trade talks. Many investors and decision makers are hoping that the summit will diffuse trade tensions between the US and China after each country applied additional tariffs on billions of dollars' worth of each other's imports.

US stocks closed higher Monday as retail shares rallied on expectations of strong sales as shoppers went hunting for deals on Cyber Monday. Stable oil prices and global equities gains also soothed sentiment after a bruising week of losses.

Crude oil prices clawed back some of last week's steep losses and jumped overnight. In the global commodities markets, Brent for January 2019 settlement jumped $1.68 a barrel or 2.86% to settle at $60.48 a barrel during the previous trading session. Prices fell to their lowest levels in more than a year on Friday amid growing worries of an oversupply in the oil market.